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Nike should put Converse on the block: It's just a distraction

Mint Hyderabad

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October 22, 2025

Its CEO has very few easy wins in reach but this could well be one

- ANDREA FELSTED

Nike should put Converse on the block: It's just a distraction

Nike has a range of challenges that should make it stick to its knitting.

(REUTERS)

“Got Chucks on with Saint Laurent,” declared Mark Ronson and Bruno Mars in their 2014 hit Uptown Funk. Yves Saint Laurent held its fashion show in Paris a few weeks ago. But where were the Chucks? Likely stuck on a retailer's discount rack.

Elliott Hill, Nike's chief executive officer, revealed a day after the Saint Laurent show that sales at Converse, maker of the Chuck Taylor All Star sneaker, had fallen 28% in the sportswear company’s first quarter, excluding the effects of currency movements. Rather than suffer the distraction of trying to put the minor brand on a stronger footing, Hill should sell Converse—or at least be open to offers.

As the heat from Adidas’ Samba sneaker fades, consumers are looking for alternatives. Converse tends to go in and out of style. It was hot in the early aughts and so should be getting a lift from the adoption of other fashion favourites from that era, such as skinny jeans and khaki jackets. But so far, consumers [in the West] don’t seem to be swapping the three stripes of Adidas for the starred ankle logo of Chucks.

Hill is trying to change that. He told analysts when he announced first-quarter earnings that he had installed new management at Converse, and that the Chuck Taylor shoe was in the “early stages of a global market reset.”

Mint Hyderabad'den DAHA FAZLA HİKAYE

Mint Hyderabad

Do tariffs work?

With trade tensions between the US and China flaring up again, the spotlight is on how their game of mutually assured disruption plays out.

time to read

1 min

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Mint Hyderabad

Mint Hyderabad

Keppel buys 49% in Cleantech, takes control

cation,” a Shell spokesperson said in an emailed response.

time to read

1 mins

October 22, 2025

Mint Hyderabad

CCI clears Torrent's JB stake buy proposal

Fair trade regulator Competition Commission of India (CCI) on Tuesday cleared Torrent Pharmaceuticals Ltd's proposed acquisition of a stake in JB Chemicals and Pharmaceuticals, subject to voluntary modifications offered by the companies.

time to read

1 min

October 22, 2025

Mint Hyderabad

'Balanced India-US portfolios fared better'

Saurabh Mukherjea has a simple message for investors in Indian equities: it's time to look beyond. The chief investment officer and co-founder of Marcellus Investment Managers believes that with jobs in India drying up due to the US tariffs, consumption slowdown and tepid corporate earnings, it “will be tough for a market already trading at record-high valuations to move any further”.

time to read

2 mins

October 22, 2025

Mint Hyderabad

Mint Hyderabad

NITI Aayog proposes new panel to supercharge net-zero push

India’s top government think-tank has called for setting up a panel to guide policy and coordinate multi-ministry efforts on climate action and energy transition, two people aware of the development said.

time to read

1 mins

October 22, 2025

Mint Hyderabad

Mint Hyderabad

The Jio tariff hike everyone expected isn't coming—yet

The company has instead chosen to grow revenue by driving users to consume more data

time to read

2 mins

October 22, 2025

Mint Hyderabad

Reliance seeks to buy Middle East oil

Reliance Industries Ltd bought Middle Eastern crudes last week and may place more orders, ina sign that Western pressure against Russian flows may be starting to impact its procurement patterns.

time to read

1 min

October 22, 2025

Mint Hyderabad

Deloitte's AI debacle in Australia isa warning for all early adopters

That a report riddled with AI hallucinations was sent to a government should be a wake-up call

time to read

3 mins

October 22, 2025

Mint Hyderabad

Jio-BP’s Q2 petrol, diesel sales up 34%

Jio-BP, the fuel retailing joint venture of Reliance Industries and super major BP, clocked a 34% rise in petrol and diesel sales in the September quarter as the joint venture aggressively expands its retail network.

time to read

1 min

October 22, 2025

Mint Hyderabad

Recent Nobel prizes for economics seem rich in irony

This year’s Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was awarded “for having explained innovation-driven economic growth,” with one half to Joel Mokyr “for having identified the prerequisites for sustained growth through technological progress” and the other half jointly to Philippe Aghion and Peter Howitt “for the theory of sustained growth through creative destruction.”

time to read

3 mins

October 22, 2025

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